Banque de France assets: securities held for monetary policy
Banque de France assets: securities held for monetary policy stood at 705,520.69 EUR million in Aug 2026, according to ECB Data Portal – Internal liquidity management and TARGET balances (ILM), France. It is one of the indicators in the Banque de France balance sheet table (Value · Monthly), with a complete series running from Jun 2016 to Aug 2026. The complete series with an interactive chart, free to download.
This indicator in the Banque de France balance sheet table
| Indicator | 08-2026 | 07-2026 | 06-2026 | 05-2026 | 04-2026 | 03-2026 | 02-2026 | 01-2026 | 12-2025 | 11-2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Securities of euro area residents in euro | 877,584.33 | 871,901.65 | 874,050.65 | 866,119.82 | 885,202.51 | 898,322.7 | 906,261.42 | 922,744.31 | 923,852.91 | 924,438.42 | |
| Securities held for monetary policy purposes | 705,520.69 | 706,197.69 | 711,756.35 | 713,780.97 | 737,034.63 | 750,268.83 | 762,304.73 | 784,297.49 | 786,967.79 | 790,337.39 | |
| Other securities | 172,063.64 | 165,703.96 | 162,294.3 | 152,338.85 | 148,167.87 | 148,053.87 | 143,956.69 | 138,446.83 | 136,885.12 | 134,101.03 |
Understanding banque de France assets: securities held for monetary policy
Securities held for monetary policy purposes capture debt instruments acquired specifically under central bank asset purchase programs and quantitative easing frameworks. This sub-set isolates policy-driven bond portfolios from other resident securities and general investment holdings, serving as a primary indicator of unconventional monetary policy interventions. It measures the stock of regional public and private debt absorbed through dedicated purchase schemes.
Interpreting this series requires monitoring program announcements, reinvestment policies, and principal repayment schedules governing the underlying purchase schemes. Monthly declines reflect scheduled redemptions when reinvestment caps are active, while increases signal active purchase phases. Analysts should evaluate this series alongside monetary policy lending to capture the full scope of central bank accommodation.
Frequently asked questions
- What does this series measure?
- Debt securities acquired exclusively through dedicated central bank asset purchase and quantitative easing programs.
- How does it differ from other resident securities?
- It isolates policy-driven asset portfolios from standard structural or general investment holdings.
- What drives downward movements in these holdings?
- Scheduled bond redemptions occurring when full reinvestment of maturing principal is curtailed or halted.